On December 31, 2020 Benson Bazzell Company accepted Russell Ram Company's $150,000 3- year note, paying 8 percent annually on December 31, as full payment for a specialty piece of equipment. The market rate of interest for similar notes is 6 percent. The following data is provided: Table Factors for 3 Periods Interest Rate 6 percent 8 percent Future Value of $1 Present Value of $1 Future Value of an Ordinary Annuity of $1 Present Value of an Ordinary Annuity of $1 1.19102 .83962 3.18360 2.67301 1.25971 ..79383 3.24640 2.57710 (a) (1) Determine the present value of the note (show calculations) and (2) make the appropriate journal entry for Benson Bazzell Company on December 31, 2020. Round answers to the nearest dollar